Ladies and gents welcome back to another video in this episode, we're going to be going over everything you need to know with regards to crypto regulation, executive orders and all that is happening within the markets. Today, just last week on this channel, we were discussing the parameters of where these executive orders may even slide to, and finally, we are getting word and confirmation on what areas that is, and it's going to be stable coins. Not only that we are getting additional news about russia talking about their own plans with regulating crypto and i'm gon na be breaking down what that means to the people, and in addition to that, we also got some more word about some secret crypto bills. Passing within the government system, so guys, if you do enjoy these updates, if you do appreciate the research that goes behind these videos, do me a favor drop a like down below.

It really does help out the channel and before we get started just a quick mention. The super bowl is happening just a few days from now. Today is wednesday. One of our sponsors ftx is actually having a pretty sweet gig, where they're coming out with one of their commercials on super bowl time, and during that time of when it comes out, you're going to be seeing a possibility of being able to win some huge amounts Of bitcoin ftx is planning to give away millions of dollars in free bitcoin and, if you guys do want to be a part of that competition check out the link down below and make sure you sign up using my code, jung as well.

Ftx offers some of the lowest trading fees where you can buy trade and sell crypto, and they give you access to a lot of amazing tools as well. Now with that being said, let's go over what we're seeing in the markets today and then finally talk about crypto regulation, so the global crypto market cap for today is sitting at 2.02 trillion dollars or a 1.36 increase over the last day. What you'll notice here is that bitcoin is still sitting at 44 323, strong with other all coins still in the green looking at the seven days, oh boy, it is pretty. We are seeing 20 growth just in the last week with ethereum back sitting at 3 200 for today, now, with bitcoin and ethereum, having very similar seven day gains, we are also noticing all across the board, with other all coins having tremendous amount of momentum as well.

In yesterday's episode, we also talked about why xrp is ripping and some of the news updates regarding the current court situation, with their lawsuit against the sec scrolling down you'll, also notice, cardano, solana, tara, luna, avalanche polka dot, i mean most. All coins, especially the high caps, are green in the market today, and you also notice that shiba inu has also been getting a little bit of a roll and a rally up about 58, also in the last week. Now. This just reiterates our point in how important it is to make sure that you are continuing to invest into the markets, especially when things are fearful for anyone who did average into the dips just a few weeks back, you should be up on every single one of Those investments, if you threw a dart at any one of these all coins, they are up right now, taking a look at the crypto fear and greed index.

We are sitting at a neutral standpoint, yet again with extreme fear happening just last week now getting into the meat of this video, so they state here with the headline latest crypto news: the government seized 3.6 billion dollars in stolen crypto and urges more stable coin regulation. If you guys didn't hear there was a report that just came out a few days ago, talking about money laundering and the amount of crypto that was seized, there's a little bit of conspiracy happening with this story just because of the timing of it all. According to the new york times, the justice department seized 3.6 billion dollars in bitcoin and arrest married a couple, so the couple was accused of conspiring to launder bitcoin that was stolen in 2016 from hong kong-based bitfinex, one of the largest virtual currency exchanges scrolling down the Article they state over the last five years about 25 000 of those bitcoin were transferred out of mr lichtenstein's wallet. Using a complicated series of transactions meant to obscure that the currency had been stolen from bitfinex.

However, investigators traced the movement of the bitcoin on the blockchain, the permanent, fixed electronic ledger that records each time. A bitcoin moves to a new digital wallet and some of those funds were eventually deposited into financial accounts controlled by mr lichtenstein and miss morgan, who use some of the money to buy items such as gold nfts and a walmart gift card. How cool so it doesn't come to many people surprised that russia right now is stepping up to make some extra moves within the regulation space of cryptocurrencies. There was a story last month talking about their plans of banning crypto as well, and i think one step in doing that is going to start with regulation now i know many people may look to hear russian news with them banning crypto being a country at that Size, but i would make sure that you know that russia is not a big player within the crypto market.

Yes, it is still a big size country, but in comparison to other entities like what we've seen with china or the asian markets or even within the us. Russia's play right now is set up exactly just like this. Vladimir putin says he supports a plan to tax and regulate mining, referring to competitive advantages, russia could gain from crypto mining. Members of the us congress, meanwhile have held hearings on crypto in recent months and industry.

Watchers expect more regulatory clarity. This year, a bipartisan bill introduced last week proposed tax exemptions for crypto transactions 200 or less the us, and russia, though, both have big economic incentives to get a plan in place. Considering the latter account for about 11 of the world's bitcoin mining and the former controls at 35, according to the university of cambridge's bitcoin electricity consumption index scrolling down this article, they finalized this. By stating, i think most nations are already considering taking similar actions to recognize bitcoin and cryptocurrencies as currency.

This positive outcome hopefully influences other nations to take the same official stance. So this rolls over into what we're now seeing within the us, and it looks like that executive order may be placing a bit more emphasis on stable coin regulation. So, let's break down what stable coin regulation is so far. Looking like what the us government's stance is on it and let's also discuss whether or not this is bad for the crypto market.

Coindesk came out with this opinion piece that stable coin regulation is now taking center stage at the house hearing today, which was reported yesterday and now we have some alert and some reports on what this all means. So the narrative is this: the house financial services committee. After holding a substantive discussion on crypto regulation, broadly in december, is turning its attention to stablecoin. Specifically now, the committee will discuss last year's president's working group report on stablecoins with one of the report's authors homing in on the recommendations and how they might be implemented now before we get into that.

The harvard business review went ahead and came out with this amazing report, talking about what stable coins mean and what they are for the future, so they state here. The benefits of stable coins include lower cost, safe, real-time and more competitive payments compared to what consumers and businesses experience today, they could rapidly make it cheaper for businesses to accept payment and easier for governments to run conditional cash transfer programs. An example of this includes sending stimulus money, and this is something we mentioned on our channel back when we used to cover a lot of that stimulus content coming out and just seeing the headache of many people not getting their checks when they needed it. If we did have a stablecoin or some type of central bank cryptocurrency, we could have had that process go out much easier where instead, the irs was giving out checks to people who weren't even alive in this report, they continue to state, they could connect unbanked or Underbanked segments of the population to the financial system, but without robust legal and economic frameworks, there's a real risk.

Stable coins would be anything but stable. They could collapse like an unsound currency board, break the buck like money, market funds in 2008 or spiral into worthlessness. Some good examples of this was one of the stable coins that tanked completely to zero earlier last year. So this was related to the crypto token titan that went ahead and took a huge stumble after it lost liquidity and traders were losing money at an unexpected rate, and this is basically a rug, pull crypto stable coin that we saw had a huge impact in the Market so understanding some of the benefits of what stable coins have to offer and talking about the downside of how scary and dangerous it could be for investors where they rug, pull or even the whole tether controversy, where many investors weren't even sure.

If tether had the money to back up the amount of liquidity that they were holding in their stable coin, we have a few options and it looks like this is what the government is looking to solve soon as well, between stable coins. We have three different ways to harness this technology. One of them is going to be true, stable coins, which is a non-interest bearing coin designed to have stable value against a reference currency, say the us dollar, so stability is achieved through two commitments. First, the issuer agrees to mint and buy back coins at par, and second, the issuer holds assets to back its obligation to redeem the outstanding stable coins, and this reserve provides comfort that the issuer can buy back all outstanding coins on demand.

So true, stable coins are variation of the concept of narrow banks and they should hold 100 reserve in high quality liquid assets. And if you don't know what a narrow bank is in a nutshell, it's a state chartered pass-through bank that proposes to hold only one asset account balances at the federal reserve. Now another alternative to true stable coins would be deposit stable coins. So these are demand deposit claims against insured commercial banks on blockchain rails.

They represent an amount, a person holds on deposit with an insured bank and therefore an unsecured deposit liability of that bank holders are protected by the legal framework governing deposits, including bank capital requirements and fdic insurance up to 250 000. So that segways well into what we're seeing with that new crypto regulation that is being proposed right now and this article states it the best. The report effectively proposes to classify stable coin issuers as banks, which would subject them to new rules designed to protect people who trade and use stable coins. The report highlights three specific proposals for new legislation, so one stablecoin issuers should be required to be insured as depository institutions number two stablecoin issuers and platforms should be subject to federal oversight and required to meet appropriate risk management standards and number three stablecoin issuers should be Required to comply with restrictions on commercial entity affiliation and to promote interoperability among stable coins, so those are going to be a few bullet points taken away from the six-page statement coming from jean niel liang talking about the risks of stable coins, some of the regulatory measures That we're looking to take as well so personally for me.

Developments like this with regards to stable coin regulation is good news to me: we're getting more confidence in the market and when we get insurance coming from entities like the fdic. It's going to put in the type of confidence that we need from other institutions to make sure that we get additional liquidity coming into this market when you're, not sure if stable coins are backed up, and you have a large amount of money inside of them, it Can be pretty scary and daunting for others to invest? We mentioned this in one of our last crypto regulation. Videos talking about my opinion on why regulation is much needed in this space. Stablecoins, with more regulation is going to offer the same benefits and protection that we could see with money coming from banks, and it can uphold a lot more voter confidence just so we can get that money moving.

The mention of interoperability is going to take into consideration. How accessible a lot of these stable coins are going to be from market to market? To back that up, we even had this article that came out recently with an announcement from apple that they plan to accept crypto payments using their tap to pay feature on the phone. This decision that apple's making right here is going to open the doors, to a lot of investors, for people to have accessibility with crypto, but imagine crypto having additional backing from the government and us being able to confidently use these products without having to worry about another Issue of titan crypto or a rug, pull or severe liquidity problems in the future. Now, last but not least, we do need to mention another alternative that could happen, and this is going to be a central bank.

Digital currency, also known as a cbdc. Now, in the harvard business review, they do state that it may likely take years for a cbdc to be developed and adopted, but they do state. In this last paragraph cbdc's and stable coins would be strong, complements and not substitutes of one another. The public sector could focus on issuing digital coins and delivering on sound money, while the private sector could build the rails and applications.

Competition among all markets are amazing, and when we see competition with legacy networks, it would further ensure a higher degree of resilience and innovation. Here so not too long ago, we did get additional reports from the uss treasury government talking about their report and stance on stable coins scrolling down beneath the contents. You can see their breakdown and their ideology behind this as well. In the first paragraph of their executive summary, they state, stable coins are digital assets that are designed to maintain a stable value relative to national currency or other reference assets.

Today, stable coins are primarily used in the us to facilitate trading lending or borrowing of other digital assets, predominantly on or through digital asset trading platforms. So if i sign up for as an example ftx or any other crypto exchange, you oftentimes need to get usdc or usdt to get the stablecoin and then buy the crypto of your choice. Proponents believe stablecoins could become widely used by households and businesses as a mean of payments if well, designed and properly regulated stablecoins could support faster, more efficient and more inclusive payment options. Moreover, the transition of broader use of stablecoins as a means of payment could occur rapidly due to network effects or relationships between stablecoins and existing user base or platforms.

Since crypto, especially stable, coins is still relatively new and a lot of people are still trying to understand and grasp the concept of different natures of how crypto is going to adopt and merge with mainstream uh traditional finance markets. Only time will tell and give us a better idea of what is going to happen with the overall development of the market. Personally, for me, i do believe it is bullish when we do get additional protection for the consumers, especially within markets like this. I do know that governments tend to overstep their boundaries and there is always a strong possibility that stable coin regulation could lead and be another deterrent for many people to get into this space as well.

I tend to look on the latter side and hope that this type of regulation and insurance would involve, like i said, a lot of those institutions being able to put more money into these markets. Now, let me know what you guys think about the current story down below. Let me know if you guys think stable coins do need regulation if it is good that the government steps in and make sure that there's regulation within it or if they are overstepping those boundaries. So if you guys are watching this all the way to the end of the video, don't forget to comment down below the secret word and that is going to be stability.

Thank you all so much for watching. Today's episode follow me over on twitter and on instagram. If you guys have not done so already, and you guys want to get a little bit of a sneak peek in my life, don't forget to check us out over on the patreon and discord community. If you guys want to join a community full of like-minded individuals with regards to learning more about crypto, seeing what kind of trades i make and some of the market updates that we have, and also getting some notifications from some of our new analysts within our group Check out the link down below in the description for that and with all that being said, thank you all so much for watching today's video and until next time, peace out.